Taxes

1099-R Tax Form

A 1099-R tax form reports certain types of income received by NYCERS retirees, members and beneficiaries.

If you received a retirement benefit, a taxable loan, a refund, or you’re a beneficiary who received a survivor benefit from NYCERS during the prior year, you’ll receive a 1099-R tax form.

Learn more by reviewing the FAQs below, or watch this two-minute video – Understanding Tax Form 1099-R

What types of income does the IRS classify as “taxable distributions” from NYCERS? 

Taxable distributions from NYCERS may include:

  1. Taxable Loans
  2. Refunds
  3. Monthly Pension Payments
  4. Monthly Survivor Benefit Payments
  5. Lump-sum Death Benefits

When will I receive Form 1099-R?

If you received a taxable distribution from NYCERS in the previous year, NYCERS will send your 1099-R by mail and upload a copy to your MyNYCERS account by January 31.

How can I access my 1099-R online? 

Follow these steps to access your 1099-R online:

  1. Log in to your MyNYCERS account.
    New to MyNYCERS? Register
  2. In the main menu, look for View My: Documents.  
  3. Select the Taxes & Statements tab.
  4. Click the Generate 1099-R button.

The 1099-R forms you received from NYCERS are listed by the year for which they were issued. Select the year you need, then print or download your 1099-R form.

Why didn’t I receive my 1099-R in the mail? 

Check if your correspondence address is up to date by logging in to your MyNYCERS account and selecting Manage My Profile from the main menu. If your address is incorrect, click the Update Contact Information button.

There are two ways to request a copy of your 1099-R be mailed to you: 

  1. Click Contact NYCERS in your MyNYCERS menu, then look for the Start button to complete a Service Request form. Be sure to include the tax-filing period/year you are requesting; or,
  2. Contact NYCERS’ Call Center at 347-643-3000.

Why did I receive more than one 1099-R this year?

You may receive multiple 1099-R forms for the same tax filing period, if you:

  1. Are retired from more than one pension system. 
  2. Reached age 59 ½ this tax filing period and the IRS now classifies your pension payments as Normal Distributions.
    Prior to age 59 ½, they were classified as Early Distributions, resulting in two 1099-Rs for this year.
  3. Are receiving your own retirement benefit, and an additional benefit, such as a survivor benefit, or an alternate payee benefit based on a Court or Domestic Relations Order (DRO). 
  4. Received two types of payments from NYCERS within the same tax year, for example: a taxable loan and a survivor benefit.

Why are there no taxes withheld for State and Local?

NYCERS’ benefit payments (monthly retirement allowances, loans and excess refunds) are Federally taxed, but are exempt from New York State and local income taxes if your primary residence is within New York State.

If you are not a resident of New York State, you should check with your state tax authority to determine the taxability, if any, of your distribution from NYCERS.

How do I change my current tax withholding for my monthly retirement or survivor benefit?

Retirees and beneficiaries can change the Federal withholding for their monthly benefit online. To make a change, log in to your MyNYCERS account and look for the Withholding Tax (W4-P) link in the main menu. 

New to MyNYCERS? Register  

Alternatively, you can complete an Application to Change Federal Income Tax Withheld Form #349 and return it to NYCERS by mail or drop it off at the Walk-in Center. 

Withholding changes are generally reflected within one to two pension payments.

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